San Marcos Mercury | Local News from San Marcos and Hays County, Texas
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February 12th, 2010
San Marcos sales tax revenues up 3.73 percent

SUBMITTED REPORT

San Marcos retailers had a good month in December as reflected in a 3.73 percent increase in sales tax collections by the City of San Marcos.

The City of San Marcos received an increase of $79,090 for total sales tax revenues of $2,197,289 in December, the first increase in seven months.

“We hope that this report reflects a trend that will continue in 2010,” said Mayor Susan Narvaiz. “Austin also showed a strong improvement in retail sales in December and we are cautiously optimistic that this indicates a strengthening economy in our region.”

The city of Kyle posted a December increase of 34.79 percent over last year. Meanwhile, other regional cities saw declines including New Braunfels (minus 2.39 percent), Georgetown (minus 6.57 percent) and Round Rock (minus 3.34 percent).

Sales tax collections represent 48.1 percent of the San Marcos’ General Fund revenues. For the fiscal year beginning in October, sales tax collections are down 3.55 percent, or $231,584.

The city has a strong fund balance of 34.2 percent and has financial policies that closely track revenues and expenditures to respond to variations in revenues.

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